GameStop’s convertible bonds, referred to as “Project Rocket” in an SEC filing.
These bonds were announced in March 2025, with GameStop raising $1.3 billion, and an additional option for $200 million, to fund general corporate purposes, including potential Bitcoin purchases. The “Project Rocket” name appeared in the filename of the bond indenture submitted to the SEC, sparking interest among investors and on platforms like X. The bonds are unsecured, carry no regular interest, and mature on April 1, 2030, with a conversion price of approximately $29.85 per share, representing a 37.5% premium over the stock’s weighted average price at the time.